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Key Details
Sold Price $775,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 1,225 sqft
Price per Sqft $632
MLS Listing ID CRSR24140169
Sold Date 10/09/24
HOA Y/N No
Year Built 1949
Lot Size 3,000 Sqft
Acres 0.07
Property Description
We are proud to present, a value-add, single-tenant retail opportunity located at 13424 & 13242 ½ Riverside Drive in the highly desirable City of Sherman Oaks, California. Potential for interest-only Seller financing. The property consists of 2 individually metered spaces, currently leased on a month-to-month basis to one tenant, offering an owner-user the ability to occupy part of the space, while leasing out the other, off-setting the mortgage, or for an astute investor looking to reposition the property and bring the rents up to market. The space is currently occupied by Nail Fetish, a long-term tenant that is operating at a rental rate of $1.98 p/sf, far below the market average of ±$3.36 p/sf. The property encompasses roughly ±1,225 square feet and is situated on a ±3,000 square foot lot, offering a zoning of LAC1.5. Per city records, the building was constructed in 1949 of wood frame with a flat roof and stucco exterior, and recently ownership installed a new 200-amp commercial main panel, as well as one sub-panel, and new Siemens meters. Sherman Oaks is a vibrant neighborhood located in the San Fernando Valley region of Los Angeles, California. Known for its tree-lined streets, upscale residential areas, and bustling commercial districts, Sherman Oaks offers a blend of
Location
State CA
County Los Angeles
Area Listing
Interior
Fireplace No
Exterior
Total Parking Spaces 5
Building
New Construction No
Others
Tax ID 2358032041
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with MichaelPesci
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122